Vice Media gains $5.7bn valuation with TPG investment

Vice Media has completed a $450m investment from TPG, the private equity group, in a deal the youth-focused company said valued it at $5.7bn — more than double its valuation of three years ago.

The media company, whose investors include Walt Disney, Rupert Murdoch’s 21st Century Fox and WPP, said it would use the new funds to produce scripted “multi-screen” programming that complemented the news, documentary and reality series it makes and distributes around the world.

Vice’s valuation has risen rapidly with each round of investment. When Disney doubled its stake in the group to $400m at the end of 2015, it valued the company at more than $4bn.

For the full story read The FT

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